Bitcoin ETFs in the US had a third straight day of outflows, with around $58 million exiting the market yesterday. This decreased the overall net inflow to approximately $12.43 billion.

Grayscale Bitcoin Trust ETF (GBTC) continues to be responsible for most of the outflows. Nearly $79.4 million left the GBTC yesterday, according to data from SoSoValue. With this, the total outflows from the Grayscale BTC ETF currently stand at $16.46 billion. Additionally, Ark Invest's Bitcoin ETF ARKB also experienced net outflows of $13 million on Tuesday.

Most of the other spot bitcoin ETFs saw modest inflows ranging between $1.37 and $3.56 million, while BlackRock’s ETF iShares Bitcoin Trust (IBIT) dominated inflows with $25.78 million being brought in. Thus, the total inflows in BlackRock’s IBIT have now surged past $15.3 billion.

After a steady decline after peaking in early March, spot bitcoin ETF volumes have steadied throughout April. Cumulative volumes topped $215 billion on Monday, according to The Block's data.

Additionally, flows in either direction have contracted. Spot bitcoin ETF inflows and outflows have steadily gotten tighter since March.

This comes at a time when the price of bitcoin is trading above $64,300 and is up more than 2.6% and the much-anticipated bitcoin halving is expected to happen on Saturday.

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